A system and method for implementing a recurrent bidding process is disclosed. According to one embodiment, a method for implementing a recurrent bidding process to dispose of a portfolio of consumer debts may comprise the steps of: offering the portfolio of consumer debts in an initial bidding among a plurality of potential buyers to identify a first buyer and a second buyer, wherein the first buyer is the highest bidder in the initial bidding and is allocated a first portion of the portfolio, and wherein the second buyer is the next highest bidder in the initial bidding and is allocated a second portion of the portfolio; maintaining the allocation of the portfolio of consumer debts between the first buyer and the second buyer for a first time period; designating a portion of the portfolio as an at-risk volume for a second time period; offering the at-risk volume in a second bidding between the first buyer and the second buyer, wherein the highest bidder in the second bidding is allocated the at-risk volume; and maintaining the resulting allocation of the portfolio of consumer debts between the first buyer and the second buyer for the second time period.
Legal claims defining the scope of protection, as filed with the USPTO.
1. A computer-implemented method using a computer system having a computer processor and a database for implementing a recurrent bidding process for a buyer to purchase assets to fulfill an acquisition portfolio stored in the database, the method comprising the steps of: offering, using the computer processor, the acquisition portfolio in an initial bidding among a plurality of potential sellers to select a limited number of exclusive sellers; allocating, for a first time period, the acquisition portfolio to the limited number of exclusive sellers, as determined by the computer processor, based at least in part on bidding prices in the initial bidding; entering into purchasing contracts with the limited number of exclusive sellers allocating a portion of the acquisition portfolio to each of the exclusive sellers; designating a portion of the acquisition portfolio as an at-risk volume for a second time period; offering, using the computer processor, the at-risk volume in a second bidding among the limited number of exclusive sellers; and selecting one or more winning bidders using the computer processor, wherein the one or more winning bidders in the second bidding are allocated the at-risk volume for the second time period.
2. The method according to claim 1 , further comprising: determining a ceiling limit for the second bidding; and withdrawing the at-risk volume from the allocation of the acquisition portfolio among the exclusive sellers if a winning bid in the second bidding exceeds the ceiling limit.
3. The method according to claim 2 , further comprising: offering the withdrawn at-risk volume in a subsequent bidding among the exclusive sellers.
4. The method of claim 1 , further comprising: entering into a contract with each of the exclusive sellers upon conclusion of the initial bidding, the contract specifying: a contract length, two or more time periods in the contract length for purposes of re-allocating the portfolio between the exclusive sellers, and a designation of the at-risk volume for each time period following the first time period.
5. The method of claim 4 , wherein each time period lasts three months, and wherein, in addition to the second bidding, three additional biddings are held on a quarterly basis to re-allocate the portfolio between the exclusive sellers.
6. The method of claim 1 , wherein each bidding is managed by an intermediary on behalf of the buyer.
7. The method of claim 1 , further comprising basing initial allocation of the acquisition portfolio on initial bidding prices.
8. The method of claim 7 , further comprising guaranteeing each exclusive seller a minimum share of the acquisition portfolio for at least one time period.
9. The method of claim 2 , further comprising taking the at-risk volume to the open market if the winning bid is higher than the ceiling limit.
10. The method of claim 1 , further comprising designating an at-risk volume for at least one additional time period.
11. A computer-implemented system for implementing a recurrent bidding process for a buyer to purchase assets to fulfill an acquisition portfolio, the system comprising: a database storing the acquisition portfolio; and a computer processor accessing the acquisition portfolio in the database and communicating over a network with a plurality of potential sellers, wherein the computer system is programmed such that the processor executes the steps of: offering the acquisition portfolio stored in the database in an initial bidding over the network among a plurality of potential sellers to select a limited number of exclusive sellers; allocating, for a first time period, the acquisition portfolio to the limited number of exclusive sellers, based at least in part on bidding prices in the initial bidding; generating purchasing contracts with the limited number of exclusive sellers allocating a portion of the acquisition portfolio to each of the exclusive sellers; designating a portion of the acquisition portfolio as an at-risk volume for a second time period; offering the at-risk volume in a second bidding among the limited number of exclusive sellers; and selecting one or more winning bidders, wherein the one or more winning bidders in the second bidding are allocated the at-risk volume for the second time period.
12. The system of claim 11 , wherein the processor further executes the steps of: determining a ceiling limit for the second bidding; and withdrawing the at-risk volume from the allocation of the acquisition portfolio among the exclusive sellers if a winning bid in the second bidding exceeds the ceiling limit.
13. The system of claim 11 , wherein the processor further executes the step of: offering the withdrawn at-risk volume in a subsequent bidding among the exclusive sellers.
14. The system of claim 11 , wherein the processor further executes the step of: entering into a contract with each of the exclusive sellers upon conclusion of the initial bidding, the contract specifying: a contract length, two or more time periods in the contract length for purposes of re-allocating the portfolio between the exclusive sellers, and a designation of the at-risk volume for each time period following the first time period.
15. The system of claim 14 , wherein each time period lasts three months, and wherein, in addition to the second bidding, three additional biddings are held on a quarterly basis to re-allocate the portfolio between the exclusive sellers.
16. The system of claim 11 , further comprising an intermediary managing each bidding on behalf of the buyer.
17. The system of claim 11 , wherein the processor further performs the step of basing initial allocation of the acquisition portfolio on initial bidding prices.
18. The system of claim 17 , wherein the processor is further programmed to guarantee each exclusive seller a minimum share of the acquisition portfolio for at least one time period.
19. The system of claim 12 , wherein the processor is further programmed to take the at-risk volume to the open market if the winning bid is higher than the ceiling limit.
20. The system of claim 11 , wherein the processor further is programmed to designate an at-risk volume for at least one additional time period.
Cooperative Patent Classification codes for this invention. Click any code to explore related patents in that topic.
November 20, 2009
November 15, 2011
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